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a key democrat talks about medicare cuts that could be part of a fiscal cliff deal. we talk with maryland congressman chris van hollen. >> tom: i'm tom hudson. two hurricanes in two years for the northeast-- a region not used to big storms comes to terms with the cleanup and cost. >> susie: and it's green monday, one of the most popular days for online shoppers. we've got details. >> tom: that and more tonight on nbr! >> susie: president obama was in michigan today, campaigning on his plan to avert the fiscal cliff. speaking to union workers at the daimler detroit diesel engine plant, the president said he is willing to compromise "a little bit" with republicans on getting a plan for economic growth, job creation, and reducing the deficit. but he said he would not compromise on raising tax rates for high-income earners. >> and that's a principle i won't compromise on because i'm not going to have a situation where the wealthiest among us, including folks like me, get to keep all our tax breaks, and then we're asking students to pay higher student loans, or suddenly,
a key democrat talks about medicare cuts that could be part of a fiscal cliff deal. we talk with maryland congressman chris van hollen. >> tom: i'm tom hudson. two hurricanes in two years for the northeast-- a region not used to big storms comes to terms with the cleanup and cost. >> susie: and it's green monday, one of the most popular days for online shoppers. we've got details. >> tom: that and more tonight on nbr! >> susie: president obama was in michigan today,...
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we do think there will be a fiscal cliff deal before year end. i think that could take the s&p to 1500 by year end or early january. but for what the market does from 1500 over the course of next year, i think really depends on the details of the fiscal cliff deal. we're looking to see just how much fiscal drag there will be in 2013 overall from both spending cuts and tax hikes. and also we want to see just the amount of tax hikes. i hope that those tax hikes are not greater than 1% of gdp. >> how much fed stimulus does the market need to hit some of the targets that you're thinking about it might be able to do? >> the 1500 that is our 12-month target would take the fiscal stimulus, take the monetary stimulus that basically folks are talking about, just a fed balance sheet getting above $3 trillion. i don't think necessarily 4 trillion. i think the key to get the s&p well above 1500 is looking at the fiscal policy, the tax hikes in particular, and probably the best litmus test is the dividend tax rate. expectations for the dividend tax rate, a lo
we do think there will be a fiscal cliff deal before year end. i think that could take the s&p to 1500 by year end or early january. but for what the market does from 1500 over the course of next year, i think really depends on the details of the fiscal cliff deal. we're looking to see just how much fiscal drag there will be in 2013 overall from both spending cuts and tax hikes. and also we want to see just the amount of tax hikes. i hope that those tax hikes are not greater than 1% of gdp....
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cliff deal. take a listen. >> until we hear something from the republicans there's nothing to drafrt, so we can get things done quickly. i think it's going to be extremely difficult to get it before christmas but it done. be >> we're still waiting for the white house to identify what spending cuts the president is willing to make as part of the balanced approach that he promised the american people. >> and then there was this moment here at the white house at the press briefing where press secretary jay carney was pressed by reporters to say what it was that speaker boehner and the president were talking about during their meeting here at the white house on sunday. the reporters wanted to know if the specifics being discussion skused in that conversation are separate from the specifics being offered in the public dialogue. take a listen to what jay carney said. >> i'm trying to be incredibly opaque about the distinction. look. >> it's working. >> it's working. >> so at least he's man enough to ad
cliff deal. take a listen. >> until we hear something from the republicans there's nothing to drafrt, so we can get things done quickly. i think it's going to be extremely difficult to get it before christmas but it done. be >> we're still waiting for the white house to identify what spending cuts the president is willing to make as part of the balanced approach that he promised the american people. >> and then there was this moment here at the white house at the press...
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cliff deal by the end of they year. maryland congressman chris van hollen talked with our darren gersh, and began with an update on the status of the talks. >> well, the good news is that the president and the speaker of the house are now in face-to-face discussions. it's always better to be talking than not. the other development is that increasingly congressional republicans recognize that the position that they had staked out is unsustainable. >> one of the arguments we hear from some democrats is that the fiscal cliff isn't really a cliff, it's more like a slope and you could gradually go down it and the withholding from tax wouldn't kick in for a while and the spending cuts wouldn't hurt the economy for a while. do you think it is good idea to go over the deliver and it is more of a slope. >> no, i think would be a mistake to go over the fiscal cliff because it could set in motion lots of things that could be a drag on the economy. that being said, i think if it's clear that the parties were working toward a negoti
cliff deal by the end of they year. maryland congressman chris van hollen talked with our darren gersh, and began with an update on the status of the talks. >> well, the good news is that the president and the speaker of the house are now in face-to-face discussions. it's always better to be talking than not. the other development is that increasingly congressional republicans recognize that the position that they had staked out is unsustainable. >> one of the arguments we hear from...
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the tape is obviously telling us there clearly has to be a deal on the fiscal cliff. i am not sure there are lots of folks i talk to who are believers. a lot of people continue to sit on the sidelines and watching the market work higher and are getting a little bit uncomfortable which were not so far on the sidelines. that is what makes the market. liz: i don't know if he does yos talk a lot about operation twist or seen the expiration of that, that is coming to the end. today you have some energy complex moving higher. natural gas not so much, but how closely tied our prices of natural gas and gasoline into what happened as far as a fiscal cliff is concerned in how people feel about the discretionary income they have an in the monen their wallets? >> the fiscal cliff stuff, i am on the sidelines. we are in a range. if you look at the volatility, we are at the lowest points of the year right here. has not been this year since last year. but 21%. that tells the a lot of people are on the sidelines. look at the range we have been in. everybody got excited. nobody got ex
the tape is obviously telling us there clearly has to be a deal on the fiscal cliff. i am not sure there are lots of folks i talk to who are believers. a lot of people continue to sit on the sidelines and watching the market work higher and are getting a little bit uncomfortable which were not so far on the sidelines. that is what makes the market. liz: i don't know if he does yos talk a lot about operation twist or seen the expiration of that, that is coming to the end. today you have some...
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stocks rallying on the on the missile that perhaps we are nearing a fiscal cliff deal. coming up we'll, find out from key lawmakers in the fiscal cliff negotiations how we can actually get a deal done before the deadline. representative chris van hollen, lynn jenkins and javier becerra as well as sore orrin hatch with us. we'll hear from former treasury secretary altman and jeff greenfield. bill? >> stocks are trading off the highs of the day with less than an hour to go. final hour, really from the get-go. optimism about the cliff talks and senator harry reid made some comments this afternoon that put a damper on that real. we've lost about 30 points. in that time. up 74 on the dow at 13,244. the nasdaq is doing well today, up 32 points. more than a 1% gain, although it is off its highs of the day at 3019, and the s&p 500 index is 8 plus points at 1426. the word on the street is because of the fiscal cliff, some investors are actually selling the winners, the winning stocks, and they are holding on to the poor performers, the opposite what have they have been doing the
stocks rallying on the on the missile that perhaps we are nearing a fiscal cliff deal. coming up we'll, find out from key lawmakers in the fiscal cliff negotiations how we can actually get a deal done before the deadline. representative chris van hollen, lynn jenkins and javier becerra as well as sore orrin hatch with us. we'll hear from former treasury secretary altman and jeff greenfield. bill? >> stocks are trading off the highs of the day with less than an hour to go. final hour,...
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coming up on closing bell, stocks rallying about a fiscal cliff deal. we'll be speaking to some of the key players in washington. congressman chris van hollen and javier becerra. orrin hatch will tell us what it will take to reach a compromise. alan greenspan explains why a fiscal clif-related recession would be a small price to pay for much needed fiscal policy reform. all that and more. what's been happening on wall street today as we get to a final hour of trading at the top of the house on closing bell. maria in washington, i'm in new york. we'll see you then. >> we will indeed. sounds like an exciting show. thanks, bill. >> mandy, have to break in here, some breaking news on fiscal cliff. heard what bill said. some headlines out of harry reid which may not be good news for the market. harry reid saying the democratic party will not put an offer of spending cuts on the table for the gop. reid also adding he does not think we will have a deal on the fiscal cliff before at least christmas if not longer. so think about that. harry reid saying no, no, n
coming up on closing bell, stocks rallying about a fiscal cliff deal. we'll be speaking to some of the key players in washington. congressman chris van hollen and javier becerra. orrin hatch will tell us what it will take to reach a compromise. alan greenspan explains why a fiscal clif-related recession would be a small price to pay for much needed fiscal policy reform. all that and more. what's been happening on wall street today as we get to a final hour of trading at the top of the house on...
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optimism there will be a deal on the fiscal cliff. you have optimism that the recapitalization of the banks is going to be delayed by another year according to the bank of italy. and you have optimism as well on mar of election promises as we now face the pros wekt of a much earlier election in italy. to that end it is fascinating. sylvia berlusconi has come out today warning about the germano center of politics. in other words, too much of a focus on what is happening from germany and the austerity inspired by angela merkel. in particular, he is drawing attention to this. which is the spread of the extra that investors demand to hold italian bonds over german bonds. i've shown this to you a couple times. over the last year it's been a mainstay of a lot of the italian business broadcasts internally. they say our bonds are currently trading so many basis points above the germans on their hourly bulletins. that was one of the reasons why at the height of it berlusconi was kicked out of power. he's saying now this is a total calm. italia
optimism there will be a deal on the fiscal cliff. you have optimism that the recapitalization of the banks is going to be delayed by another year according to the bank of italy. and you have optimism as well on mar of election promises as we now face the pros wekt of a much earlier election in italy. to that end it is fascinating. sylvia berlusconi has come out today warning about the germano center of politics. in other words, too much of a focus on what is happening from germany and the...
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a key democrat talks about medicare cuts that could be part of a fiscal cliff deal. we talk with maryland congressman chris van hollen. >> tom: i'm tom hudson. two hurricanes in two years for the northeast-- a region not used to big storms comes to terms with the cleanup and cost. >> susie: and it's green monday, one of the most popular days for online shoppers. we've got details.
a key democrat talks about medicare cuts that could be part of a fiscal cliff deal. we talk with maryland congressman chris van hollen. >> tom: i'm tom hudson. two hurricanes in two years for the northeast-- a region not used to big storms comes to terms with the cleanup and cost. >> susie: and it's green monday, one of the most popular days for online shoppers. we've got details.
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cliff deal in public. let's listen. >> i get nervous when two people disappear into a white house room and start making a grand alliance and they think, we're going to do this and get it out of the secret meetings and into the public venues to the american people and the congress themselves, we're responsible for making intelligent decisions. that should be done publicly. but at some point, after public debate and so forth, yes, private negotiations can help bridge the gap and bring us to a successful conclusion. >> mary, what do you think? will that be a kiss of death? >> i don't think there's time, wolf, the president has been dragging its feet. we have a few numbers of days left before we go off the fiscal cliff and taxes are raised for everybody. so speaker boehner knows a caucus, a serious, mature sober leader. he knows what his principles are. he's a principled conservative, a mainstream businessman and knows what the issues are. the house should and is largely trusting him. >> and what do you think
cliff deal in public. let's listen. >> i get nervous when two people disappear into a white house room and start making a grand alliance and they think, we're going to do this and get it out of the secret meetings and into the public venues to the american people and the congress themselves, we're responsible for making intelligent decisions. that should be done publicly. but at some point, after public debate and so forth, yes, private negotiations can help bridge the gap and bring us to...
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on the fiscal cliff. so is the speaker losing the fiscal cliff pr battle? the american people are blaming him. >> well, the speaker's trying to have a conversation with the president about how to solve the nation's problems. and the president is out on the campaign trail. the president prefers to campaign trail to the hard and rough road of true leadership in washington, d.c. i kind of think the president may have overplayed his hand a little bit here. if he were smart, the american people would be a little more expecting of him to be in washington to fix this before christmas. we're all a little tired of this campaign drama. i was looking at pictures today of the president in michigan. i thought, wait a minute, i thought the election was over. people are going to see through this. you can't sell them short. they'll figure it out. >> to ben's point, we know americans support raising taxes on people who make over $250,000. that's not many people and most people support other people paying more taxes. so mo
on the fiscal cliff. so is the speaker losing the fiscal cliff pr battle? the american people are blaming him. >> well, the speaker's trying to have a conversation with the president about how to solve the nation's problems. and the president is out on the campaign trail. the president prefers to campaign trail to the hard and rough road of true leadership in washington, d.c. i kind of think the president may have overplayed his hand a little bit here. if he were smart, the american...
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will a fiscal cliff deal be done in time? why don't you register your opinion. finance.cnbc. cast your vote. results will come up later on "power lunch." sue. >> we have a triple digit rally on the floor of the new york stock exchange with the dow jones industrial just off the highs of the trading session. we're up 109 points on the dow despite the gridlock in washington. nasdaq is up 41 points and s&p 500 is up 13 points. all three of those averages moving back above their 50-day moving average. first time we've seen that since october. trader from cnbc, and ceo of destination wealth management. ken y, i'm going to start with you. you were champing at the bit listening to the interview that was done in washington. why is this market up triple digits? is it up because they think there is a deal or isn't a deal? >> very interesting. i'm beginning to think the market is rallying because there is no deal, we're going over this cliff. let's not forget, it was a bipartisan committee that couldn't come to an agreement which created the situation we're in. that senator said one side
will a fiscal cliff deal be done in time? why don't you register your opinion. finance.cnbc. cast your vote. results will come up later on "power lunch." sue. >> we have a triple digit rally on the floor of the new york stock exchange with the dow jones industrial just off the highs of the trading session. we're up 109 points on the dow despite the gridlock in washington. nasdaq is up 41 points and s&p 500 is up 13 points. all three of those averages moving back above their...
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tough negotiation realtime. >> now another thing to the fiscal cliff deal? a deal i'm pretty sure is pretty bad whatever it is. not enough. >> but every little bit helps and here's the point. you know, the post office defaulted twice in the last couple of months, erin. august, defaulted $5.5 billion the first time. congress did nothing, fiddled. happened in september. overall last year, they lost $15.9 billion. something's got to be done. do they kick the can to the next year? >> thanks so much, john. >>> talking about default, they default and nobody cares. some day we'll care and going to hurt. >>> next, 22 days if the fiscal cliff and the president's taking the plan on the road but a guest says mr. obama, you are overplaying your hand. >>> and a radio prank blamed for a suicide. the two deejays behind the hoax speak out for the first time. ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. this season, discover aleve. ...so as you can see, geico's customer sat
tough negotiation realtime. >> now another thing to the fiscal cliff deal? a deal i'm pretty sure is pretty bad whatever it is. not enough. >> but every little bit helps and here's the point. you know, the post office defaulted twice in the last couple of months, erin. august, defaulted $5.5 billion the first time. congress did nothing, fiddled. happened in september. overall last year, they lost $15.9 billion. something's got to be done. do they kick the can to the next year?...
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a key democrat talks about medicare cuts that could be part of a fiscal cliff deal. we talk with maryland congressman chris van hollen. >> tom: i'm tom hudson. two hurricanes in two years for the northeast-- a region not used to big storms comes to terms with the cleanup and cost. >> susie: and it's green monday, one of the most popular days for online shoppers. we've got details. >>
a key democrat talks about medicare cuts that could be part of a fiscal cliff deal. we talk with maryland congressman chris van hollen. >> tom: i'm tom hudson. two hurricanes in two years for the northeast-- a region not used to big storms comes to terms with the cleanup and cost. >> susie: and it's green monday, one of the most popular days for online shoppers. we've got details. >>
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he wants a deal to avert so the called fiscal cliff. some of the supporters were holding rallies across the country today. this drew about 50 people or so. however, they don't want to give up cuts for social cuts. >> i think it's important to recognize we can put revenue on the table. there are areas we know where we can have some significant place autos several republicans joined democrats today to point to one area that will be targeted or should be, defense spending. today, 11 republicans called on the president to chop $550 billion from the defense budget. >> if the country goes over that fiscal cliff, california has an awful lot to loose. more than other states, in fact. >> washington is sounding like sacramento these days waiting until the last minute to reach a deal, a trigger cuts if one isn't reached. as washington waits to come up with a deficit reduction, it's becoming clear california has a lot at stake if the fiscal cliff isn't averted. the state could lose $4.5 billion in federal funds. the legislative analyst office estim
he wants a deal to avert so the called fiscal cliff. some of the supporters were holding rallies across the country today. this drew about 50 people or so. however, they don't want to give up cuts for social cuts. >> i think it's important to recognize we can put revenue on the table. there are areas we know where we can have some significant place autos several republicans joined democrats today to point to one area that will be targeted or should be, defense spending. today, 11...
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if silence is golden maybe we'll have a deal on the fiscal cliff crisis sometime soon. there's 21 days left before the tax hikes and spending cuts kick in to send us over the cliff or down that gentle slope as some like to call it. congress is supposed to break for the holidays, nan? >> the last officially scheduled day for the house of representatives is december 13th. >> so friday. but we're on call. >> i don't think you'll be home permanently december 13th. >> we're ready for that. >> here's where things stand the president was touting his tax plan to truck plant workers in michigan. john boehner were quietly conducting behind the scenes talks on capitol hill. could be a sign of progress, but the blame game and finger pointing has stopped suddenly. we want to talk about this more with mayor rahm emmanuel and the president of the united states hispanic chamber of commerce, nice to have you both with us. >> good morning. >> good morning. >> mr. mayor you've been in the room with the president negotiating "the washington post" writes this today. "obama could be a ruthle
if silence is golden maybe we'll have a deal on the fiscal cliff crisis sometime soon. there's 21 days left before the tax hikes and spending cuts kick in to send us over the cliff or down that gentle slope as some like to call it. congress is supposed to break for the holidays, nan? >> the last officially scheduled day for the house of representatives is december 13th. >> so friday. but we're on call. >> i don't think you'll be home permanently december 13th. >> we're...
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but remember, he has to strike a fiscal cliff deal. that deal is likely to contain some things unions don't like. that is some of the politics going on right now. rick: bob cusack, managing editor of "the hill." thanks so much. >> thanks, rick. >> there are three elements to this. growth, reduction in spending, and raising of revenues. we have already voted for, we, democrats voted for over a trillion dollars in cuts and spending. that was part of the budget control act and that's part of how we should go forward. jenna: that was house minority leader nancy pelosi late last month,g democrats in congress support ad trillion dollars in federal spending cuts. with so much of the fight over that looming fiscal cliff focusing on tax rates we want to look at that claim, that claim specific to spending to see how it stands up with the facts. doug mckelway is live in washington with more on this story. >> reporter: good morning, jenna. the republicans claim democrats are solely focused on raising tax rates not spending cuts. democrats counter
but remember, he has to strike a fiscal cliff deal. that deal is likely to contain some things unions don't like. that is some of the politics going on right now. rick: bob cusack, managing editor of "the hill." thanks so much. >> thanks, rick. >> there are three elements to this. growth, reduction in spending, and raising of revenues. we have already voted for, we, democrats voted for over a trillion dollars in cuts and spending. that was part of the budget control act...
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. >> coming up next, the unhome employed who are waiting for fiscal cliff deal. there's a health company that can help you stay that way. what's healthier than that? in that time there've been some good days. and some difficult ones. but, through it all, we've persevered, supporting some of the biggest ideas in modern history. so why should our anniversary matter to you? because for 200 years, we've been helping ideas move from ambition to achievement. and the next great idea could be yours. ♪ >>> want to return again to the budget talks in washington. the president is getting pressure from his left flank today, progressive democrats warning him not to make cuts to medicaid in the fiscal cliff negotiations. one expressed dismay today at the climate of secrecy surrounding the talks. listen if you would to senator jay rockefeller of west virginia. >> i get nervous when two people disappear into a white house room and start making a grand alliance and they think, well, we're going to do this to the rich and that to the poor, so we'll make that a trade-off. and lik
. >> coming up next, the unhome employed who are waiting for fiscal cliff deal. there's a health company that can help you stay that way. what's healthier than that? in that time there've been some good days. and some difficult ones. but, through it all, we've persevered, supporting some of the biggest ideas in modern history. so why should our anniversary matter to you? because for 200 years, we've been helping ideas move from ambition to achievement. and the next great idea could be...
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on the fiscal cliff, nbc's first read team says any deal is fragile. the biggest obstacle right now. >>> "nour business" entrepreneur of the week. lauren wanted to introduce kimchi to mainstream america. with the former skills as a marketer, she created mother-in-law's kimchi using nonethic packaging to appeal to a mass market. for more, watch "your business" this sunday morning on msnbc. sometimes what we suffer from is bigger than we think ... like the flu. with aches, fever and chills- the flu's a really big deal. so why treat it like it's a little cold? there's something that works differently than over-the-counter remedies. prescription tamiflu attacks the flu virus at its source. so don't wait. call your doctor right away. tamiflu is prescription medicine for treating the flu in adults and children one year and older whose flu symptoms started within the last two days. before taking tamiflu tell your doctor if you're pregnant, nursing. have serious health conditions, or take other medicines. if you develop an allergic reaction, a severe rash, or
on the fiscal cliff, nbc's first read team says any deal is fragile. the biggest obstacle right now. >>> "nour business" entrepreneur of the week. lauren wanted to introduce kimchi to mainstream america. with the former skills as a marketer, she created mother-in-law's kimchi using nonethic packaging to appeal to a mass market. for more, watch "your business" this sunday morning on msnbc. sometimes what we suffer from is bigger than we think ... like the flu. with...
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because this is a big deal, and we're talking about a fiscal cliff and great drama. if we stay on the same spending path, i thought i'd show you what happens if we change it to the boehner plan, the obama plan. let's start out with the do-nothing plan, because that's the plan we've got right now. the congressional budget office estimates our fiscal year 2013 deficit will be, well, $104 trillion for fiscal 2013, okay? and here's what happens to our national debt as a result of this baseline. it's going tt surge from $16.3 trillion to $17.5 trillion at 2013, then we get out here to about 2014, it's going to be, well, it's going to be about 19.4. 20.3 trillion, 20.3 trillion if we do nothing in 2016: and by 2022, out here, it's going to be $25.8 trillion. that's if we do nothing about this spending, this runaway spending, this irresponsible government. now let's take a look at what happens if president obama gets tough, and he gets it done. the president calling for $1.6 trillion in higher taxes. he wants $82 billion a year from that top 2%. by the way, that's the same
because this is a big deal, and we're talking about a fiscal cliff and great drama. if we stay on the same spending path, i thought i'd show you what happens if we change it to the boehner plan, the obama plan. let's start out with the do-nothing plan, because that's the plan we've got right now. the congressional budget office estimates our fiscal year 2013 deficit will be, well, $104 trillion for fiscal 2013, okay? and here's what happens to our national debt as a result of this baseline....
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avoid the so-called fiscal cliff. >>> it's a family affair. the macks are here. they're both leaving congress next year, not on their own terms but not before trying to figure out our fiscal future and even they don't agree on what to do. >>> plus, a major fight over the role of labor and their power. it all unfolds in michigan. is it the new wisconsin? find out what is driving the big change in the state. that's home to one of the most powerful unions out there. the united auto workers. good morning from washington, tuesday, december 11th, 2012. i'm chuck todd. one of those times in washington when the less that is said the better the news may be, that is if you hope lawmakers and the president come to an agreement on a verdict in this so-called fiscal cliff. we know some of you don't want to deal, but the president has no public events today and not many planned for this week. many at the white house and congress believe the less that anyonecome pains publicly the better the chances are at striking some sort of fragile deal. the president wa
avoid the so-called fiscal cliff. >>> it's a family affair. the macks are here. they're both leaving congress next year, not on their own terms but not before trying to figure out our fiscal future and even they don't agree on what to do. >>> plus, a major fight over the role of labor and their power. it all unfolds in michigan. is it the new wisconsin? find out what is driving the big change in the state. that's home to one of the most powerful unions out there. the united...
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leaders agreed to reach a budget deal to avoid the fiscal cliff. tokyo's nikkei gained a fraction while hong kong's hang seng added a quarter percent. >>> this week the federal reserve is expected to announce a new bond-buying program aimed at lowering interest rates. if it works, it might soften the blow if the nation goes over the fiscal cliff. fed chair ben bernanke has said if a budget deal can't be reached, there's little the central bank can do to offset the shock of those spending increases and tax cuts. >>> a strong sales report from mcdonald's offset wall street's worries about the fiscal cliff negotiations. the dow added 15 points while the nasdaq gained 9 points. >>> hsbc is paying a record $1.9 billion to settle a federal and state money laundering probe. the british bank was under investigation for allegedly transferring billions of dollars on behalf of iran which is under international sanctions. hsbc is also alleged to have laundered money from mexican drug cartels. under the terms of the settlement, the bank will avoid criminal pros
leaders agreed to reach a budget deal to avoid the fiscal cliff. tokyo's nikkei gained a fraction while hong kong's hang seng added a quarter percent. >>> this week the federal reserve is expected to announce a new bond-buying program aimed at lowering interest rates. if it works, it might soften the blow if the nation goes over the fiscal cliff. fed chair ben bernanke has said if a budget deal can't be reached, there's little the central bank can do to offset the shock of those...
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on the fiscal cliff. good morning again, everybody. i'm becky quick. here is what we know right now. the pace of private talks picking up speed as we now have just 20 days left. however, neither the white house nor house speaker boehner's office are giving any public indication that either side is yet prepared to give up real ground. on a road trip yesterday, president obama indicated that he is willing to compromise, just not on that point about an increase in tax for relthy americans. meantime, speaker boehner says he is still waiting on specific spending cuts. joining us now for analysis, tony fratto, of hamilton place strategies and former white house press secretary and gerald bernstein former economic adviser to vice president joe biden. gentlemen, thank you for being here with us and getting this special day of coverage kicked off for us. >> rising early and rising above. >> exactly. let's talk about this. jared, it seems like things have gotten quieter. do you think that's the case? is that a good
on the fiscal cliff. good morning again, everybody. i'm becky quick. here is what we know right now. the pace of private talks picking up speed as we now have just 20 days left. however, neither the white house nor house speaker boehner's office are giving any public indication that either side is yet prepared to give up real ground. on a road trip yesterday, president obama indicated that he is willing to compromise, just not on that point about an increase in tax for relthy americans....
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on the fiscal cliff before the holiday recess. >>> new details on a navy s.e.a.l. who died during a daring mission in afghanistan. >>> plus, a fireball over texas, and more dogs behind the wheel. good morning, even. i'm lynn berry. there is a renewed sense urgency in washington as house members returned to town today with just 21 days left to avert that so-called fiscal cliff, and if the framework for an agreement isn't reached by the end of the week, lawmakers could be spending christmas in d.c. tracie potts has those good morning. >>> the president sitting down with john boehner, the staff sitting behind closed door, but today republican members come back to capitol hill and boehner may have a problem. >> all these members are going to come back to town, and they're going to want to play a role in these negotiations. >> the house is back today. that means conservative republicans who insist the wealthy keep this year's tax breaks could put the squeeze on their own party. that's the one thing president obama refuses to bend on. otherwise he says he's flexible. >>
on the fiscal cliff before the holiday recess. >>> new details on a navy s.e.a.l. who died during a daring mission in afghanistan. >>> plus, a fireball over texas, and more dogs behind the wheel. good morning, even. i'm lynn berry. there is a renewed sense urgency in washington as house members returned to town today with just 21 days left to avert that so-called fiscal cliff, and if the framework for an agreement isn't reached by the end of the week, lawmakers could be...
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i think it is an important point fopeopleo understand what the fiscal cliff aside, you have year-end tax plan. >> there is a usual thing you should still be doing every year. with the rates going up,ike a grown-up, there are more valuable than if you don't use them this year. tracy: many people wanting to save their gains, take the losses. >> everybody talks about tang again now, buying back, hire you don't want to accelerate10 texas unless you know you're going to sell those anyway. soon into 2013. if you have a concentrated position is a lot of risk to get out. the ne six to 10 months, accelerate. in a long-term investment, there's no reason i don't think accelerate the games to pay uncle sam early. tracy: if you are in a position is a short-term gain, would u buy it back in their retirement accounts like iras? >> it depds if there's going to be gain potential still lower than the rate. tracy: that is really important as tax rates go up. speak of the thing is the fiscal cliff is driving pple to get a little crazy but rality is the argument is over the highest bracket. for most peop
i think it is an important point fopeopleo understand what the fiscal cliff aside, you have year-end tax plan. >> there is a usual thing you should still be doing every year. with the rates going up,ike a grown-up, there are more valuable than if you don't use them this year. tracy: many people wanting to save their gains, take the losses. >> everybody talks about tang again now, buying back, hire you don't want to accelerate10 texas unless you know you're going to sell those...
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the plan would be aimed at easing the blow if a deal on the fiscal cliff is not reached by year's end. >>> a temporary retraining order and injunction against transcanada took effect today. it stepped construction of a pipeline from canada to the gulf coast. a texas judge issued the order after a private landowner claimed he was defrauded by the company. >>> and stubhub has struck out with several major league baseball clubs. the new york yankees, chicago cubs and l.a. angels of anaheim apparently had enough of their ticket selling less than face value on the website. mlb extended the partnership with stubhub through the year 2017. that is the latest from the fox business network, giving you the power to prosper. melissa: speaker boehner taking the house floor with just 20 days left until we fall off the fiscal cliff. lori: what is so funny about that? melissa: i don't know the image of us diving over the cliff. he says it is time for president obama to get serious. rich edson --. lori: sorry to interrupt. melissa: he has the latest. rich. >> that image is getting closer and closer to
the plan would be aimed at easing the blow if a deal on the fiscal cliff is not reached by year's end. >>> a temporary retraining order and injunction against transcanada took effect today. it stepped construction of a pipeline from canada to the gulf coast. a texas judge issued the order after a private landowner claimed he was defrauded by the company. >>> and stubhub has struck out with several major league baseball clubs. the new york yankees, chicago cubs and l.a. angels...
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further progress will be tested as the fiscal cliff deadline approaches without a deal inside yet. i'm very pleased to have jeff immelt back on this program. welcome >> charlie, thanks, good to be back with you. >> rose: we've talked many times about g.e. since you took over, i think once since -- just after 2001. where is the company today in terms of where do you want it to be and where do you want it to be in the next five years? >> i think, charlie, what we've tried to do is simplify the portfolio into infrastructure and financial services. we like where the portfolio is today. we think in the infrastructure space there's going to be roughly $4 trillion spent each year, so it's an attractive big market. globally is where our opportunities are so the company's -- probably a decade ago 30% of our revenues were outside the united states. now it's more like 60% or 65%. so we think we've got the portfolio we want. we've dramatically increased the amount of technology. and in the end i think technology and innovation are the competitive advantage. we've got a good global footprint. w
further progress will be tested as the fiscal cliff deadline approaches without a deal inside yet. i'm very pleased to have jeff immelt back on this program. welcome >> charlie, thanks, good to be back with you. >> rose: we've talked many times about g.e. since you took over, i think once since -- just after 2001. where is the company today in terms of where do you want it to be and where do you want it to be in the next five years? >> i think, charlie, what we've tried to do...
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better than expected retailers, in the end when it come to the fiscal cliff, the longer we delay a deal or can't do a deal at all, it's worse for all the shareholders and the investors and the stock market. yes, a deal that does nothing, it simply keeps taxes where they are right now and doesn't cut entitlements, that's what everybody wants. what does matter, believe he, i mean what's going to happen if we do nothing except keep things exactly the way they are now, and just vote to undo the cliff? the rating agencies, they'll downgrade the u.s. debt. but that's it. by the way, we have already proven through nine ways of sunday that the agencies are ridiculous. when our credit rating got downgraded last summer, well, bonds went up in price and down in yield. so why not do nothing? why doesn't the president say we're just going to keep bonds the way they are? and we're not going to cut entitlements because we know if we don't cut taxes, the republicans will go along with their no tax pledge and the markets will go higher and no one will care, for now. but he told us that's not going to ha
better than expected retailers, in the end when it come to the fiscal cliff, the longer we delay a deal or can't do a deal at all, it's worse for all the shareholders and the investors and the stock market. yes, a deal that does nothing, it simply keeps taxes where they are right now and doesn't cut entitlements, that's what everybody wants. what does matter, believe he, i mean what's going to happen if we do nothing except keep things exactly the way they are now, and just vote to undo the...
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so, we have a lot of the fiscal cliff priced in, or at least the worst case scenario. so, now you get a little bit of short cover here. i wouldn't be plowing into these stocks right now, particularly after today's news. just seems -- i think there's better places to go and tim hit on it. look to europe, look to asia. that's where the growth is. there's better places than here in the u.s. >> we should note the mission critical coverage continues today on cnbc. larrdlow next on location with a special show from there at 7:00 p.m. eastern time. you see there his guests, jon kyl and peter roskam. get a check on a name that's moving right now. jackie, back at heldquarters. >> molycorp is reporting they have a new president and ceo. he is succeeding mark sit that has left the company. he will continue to serve as a director and vice chairman of molycorp's board. the company is looking for a permanent president and ceo. and that stock is moving down, more than 5%. back to you. >> thank you very much, jackie. $1.5 billion market cap company. we talked about this on "fast money
so, we have a lot of the fiscal cliff priced in, or at least the worst case scenario. so, now you get a little bit of short cover here. i wouldn't be plowing into these stocks right now, particularly after today's news. just seems -- i think there's better places to go and tim hit on it. look to europe, look to asia. that's where the growth is. there's better places than here in the u.s. >> we should note the mission critical coverage continues today on cnbc. larrdlow next on location...
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stocks rallied today over optimism a deal will be reached to avert the fiscal cliff. at the closing bell the dow finished up 78 points. >>> lazard is latest in long list of u.s. companies offering special one-time payments or accelerated dividends before scheduled tax hikes next year. the company declared a special dividend of 20 cents a share on outstanding class a common stock payable december 27th. >>> bank of america confirmed its website was the sight site of a cyberattack. bank of america is one of several banks targeted this week that carried out similar cyber attacks in october and associated with islamic terrorists. other banks were jpmorgan chase, pc this bancorp, and suntrust banks. that is the latest from the fox business network, giving you the power to prosper. copd makes it hard to breathe, but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to
stocks rallied today over optimism a deal will be reached to avert the fiscal cliff. at the closing bell the dow finished up 78 points. >>> lazard is latest in long list of u.s. companies offering special one-time payments or accelerated dividends before scheduled tax hikes next year. the company declared a special dividend of 20 cents a share on outstanding class a common stock payable december 27th. >>> bank of america confirmed its website was the sight site of a...
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to keep from all going over the fiscal cliff. the president is refusing to compromise on letting tax cuts expire on incomes of more than $250,000 a year. g.o.p. leaders are calling that a job killer and a deal breaker. of course, if we fall off the fiscal cliff, we'll all die, right? actually, taxes will go up for pretty much everybody and automatic spending cuts kick in on knew year's day. the president and the house speaker met face-to-face just yesterday for the first time since the election, but are they talking about it? no. today an aide said the speaker is willing and still waiting for counteroffer from the president. ed henry is live at the white house. i don't know, ed. a meeting happens and nobody says anything. this could be seen as something more good than bad. >> reporter: exactly. because they didn't come out of the meeting beating each other up and saying i'm never going to sign a deal with the other guy. the fact that they're keeping this quiet, hush hush for now in terms of the details of what they discussed sugg
to keep from all going over the fiscal cliff. the president is refusing to compromise on letting tax cuts expire on incomes of more than $250,000 a year. g.o.p. leaders are calling that a job killer and a deal breaker. of course, if we fall off the fiscal cliff, we'll all die, right? actually, taxes will go up for pretty much everybody and automatic spending cuts kick in on knew year's day. the president and the house speaker met face-to-face just yesterday for the first time since the...
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i do think getting over the fiscal cliff, the deal getting closer to balance the budget is still very important. i do hope because of the discussion that tax reform is something that is taken seriously for this year. i think that is well overdue. there is not time to do it before december 31. it will give businesses a lot of assurances that the government is paying attention to what they are saying. >> you should tell barack obama to find a jim baker. >> think about each time we have reached a crisis point in our country there's been an institutional response to it. we created a central bank. that has proved to be enormous for the past five years and important for years before that. post-world war ii, we create a system and the department of homeland security. i wonder if there's not an institutional -- >> some did not work as well as others. >> that is exactly right. it reflects our values and the focus of the government. we should have a department of homeland prosperity. we need somebody other than the president to think about american competitiveness. something we've taken for gra
i do think getting over the fiscal cliff, the deal getting closer to balance the budget is still very important. i do hope because of the discussion that tax reform is something that is taken seriously for this year. i think that is well overdue. there is not time to do it before december 31. it will give businesses a lot of assurances that the government is paying attention to what they are saying. >> you should tell barack obama to find a jim baker. >> think about each time we...
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david, i want to drill down on even over this past weekend we heard the fiscal cliff is a cliff. no parachute. bad things happen if we go over it. i have never been persuaded of that. the payroll tax is likely to go up either way. the taxes in the healthcare bill will kickback in no matter what. sequestration could be remedied. is it in your view a slope, a cliff, what is the metaphor, and is there hysteria attached to this that is excessive? >> cliff is a problematic metaphor because it is not like the debt ceiling. it's not even like the government shutdown. you don't necessarily have an enormous market reaction. this is not like the country defaulting on its debt. but it's serious for two reasons. we don't know what the reaction could be. there it is a chance that it could spook the markets. the second thing, the combine pieces of this passage is a combined 4% of the gdp. if they went into affect and remained in affect not just for a couple of weeks but for the full year it's hard to see how the economy avoids a recession next year. it's not guaranteed but it's more than enoug
david, i want to drill down on even over this past weekend we heard the fiscal cliff is a cliff. no parachute. bad things happen if we go over it. i have never been persuaded of that. the payroll tax is likely to go up either way. the taxes in the healthcare bill will kickback in no matter what. sequestration could be remedied. is it in your view a slope, a cliff, what is the metaphor, and is there hysteria attached to this that is excessive? >> cliff is a problematic metaphor because it...
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i hope this mini rally is happening because people have looked over the fiscal cliff and weren't terrified by what they saw. i hope they don't mind government intervention. because they are not going away. i hope that because what i heard in washington today were two sides even though i can tell them that a deal would be done and there would be no vacation without legislation, we'd be in much better shape. i have to tell you, the situation in washington is as discouraging. one after another i started with a too tack. i said let's go there. i said i totally agree the issue of spending not revenues. tell us what you have done to get spending done. did they give you the fellow traveler ideas? no. they attacked the president. each time when i asked for ideas on what to cut. like right now. like every other country in the north does, like pulling back on positions from our army. i got the same response. it is the president's fault. i might have well have been a mannequin. they he want to talk about raising taxes of the rich. but it can't be dismissed as part of the mosaic that will get the gove
i hope this mini rally is happening because people have looked over the fiscal cliff and weren't terrified by what they saw. i hope they don't mind government intervention. because they are not going away. i hope that because what i heard in washington today were two sides even though i can tell them that a deal would be done and there would be no vacation without legislation, we'd be in much better shape. i have to tell you, the situation in washington is as discouraging. one after another i...
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we have to avert the fiscal cliff. my concern is it drives us into recession, knocks up employment up, and i agree with you, we have to ensure more people have more of their own money in the pockets to decide what to save, spend, what to invest, and anything that hurts our fragile economy, i think is bad for all americans, especially those like you talk about, trying to put food on the table and get the kids to school. tracy: anything you come to the tail on? concessions to give into in order to get it done to avert the cliff? >> john boehner talked about increasing revenue. i think we need to do that through jobs and growth and getting more people back to work. unemployment numbers continue to be very high. our big problem is the sending. we continue to spend too much, and we have to make adjustments now to make sure we save and protect medicare and social security for future generation. tracy: there's no talk about that. raise taxes six ways until tuesday, and it's not covering the debt or spending habits at the end
we have to avert the fiscal cliff. my concern is it drives us into recession, knocks up employment up, and i agree with you, we have to ensure more people have more of their own money in the pockets to decide what to save, spend, what to invest, and anything that hurts our fragile economy, i think is bad for all americans, especially those like you talk about, trying to put food on the table and get the kids to school. tracy: anything you come to the tail on? concessions to give into in order...
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and i think all of us know what we really need to do to deal with the fiscal cliff is to have a true fiscal reform package that i hope would be in the range of $4 trillion, $4.5 trillion, so we can put this issue behind us and really begin this next year with it in the rear-view mirror and our economy taking off because we've shown the world that we've actually dealt with these issues and people in our country would have the confidence to invest -- to invest here in our country because they know we in washington have been responsible in that way. one of the big discussions that's taking place right now is revenues, and, really, i think at the end of the day, we're going to come to a conclusion very soon that it's probably time for us to go ahead and rescue the 98% of the country that's been caught up in all of this. and my sense is we're going to have some resolution to that in the -- in the very near future. what i have found is, and one of the reasons that we don't have a solution, is that people on both sides of the aisle are focused over here on the revenue side, but so far there
and i think all of us know what we really need to do to deal with the fiscal cliff is to have a true fiscal reform package that i hope would be in the range of $4 trillion, $4.5 trillion, so we can put this issue behind us and really begin this next year with it in the rear-view mirror and our economy taking off because we've shown the world that we've actually dealt with these issues and people in our country would have the confidence to invest -- to invest here in our country because they...
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>>guest: i don't want to go off the fiscal cliff which congress created in a bipartisan way. this fiscal cliff is the direct result of the last fiscal cliff when we had the debt limit showdown. >>neil: both sides agreed. >>guest: i voted again i. why create the artificial crisis as a way to force action? it never works. >>neil: bethis. they did. >>guest: and now they are going to do it again. they are saying, now, hurt growth in america, cut a deal that hurts growth in america so in a year from now we will have a worst fiscal cliff and that is the real fiscal cliff $16 trillion debt which the tax you have 200,000 less jobsve next year and the people voting for that will be responsible and held accountable for the public policy. >>neil: you have been talking about freeing out to the middle-class. for and reason in the last election republicans lost the middle class. they seemed to get stereotypes as the party that appeals only to the well-to-do. what i am asking you, how do you change that? the perception sticks in the eyes of some. >>guest: first of all, we need to understand
>>guest: i don't want to go off the fiscal cliff which congress created in a bipartisan way. this fiscal cliff is the direct result of the last fiscal cliff when we had the debt limit showdown. >>neil: both sides agreed. >>guest: i voted again i. why create the artificial crisis as a way to force action? it never works. >>neil: bethis. they did. >>guest: and now they are going to do it again. they are saying, now, hurt growth in america, cut a deal that hurts...
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to avoid the fiscal cliff and explain what's at stake. i think they may be chasing people down the halls to some extent. >> to be a fly on the wall. >> i guess it's more. we will hear becky personally. >> becky will remind us what's going on today. a pen fee of them will go october trade sales. the like day for earning, that's due before the opening sales. >> always a good read. >>> protests in egypt's tahrir square turns to violence this morning with nine reportedly injured from an unknown gunman. we'll have the latest from cairo when we come back. >>> you are watching "worldwide exchange." these are your headlines. talks on the cliff seem to be advancing as the gop is ready to negotiate. >>> berlusconi sets up the rhetoric on monti. and hsbc settles money laundering charges and agree toes pay a record $1.9 billion fine. nine people have reportedly been injured after unknown gunmen fired at protesters in tahrir square early this morning. mass rallies have been called by both anti-and pro government supporters and ongone divisions over th
to avoid the fiscal cliff and explain what's at stake. i think they may be chasing people down the halls to some extent. >> to be a fly on the wall. >> i guess it's more. we will hear becky personally. >> becky will remind us what's going on today. a pen fee of them will go october trade sales. the like day for earning, that's due before the opening sales. >> always a good read. >>> protests in egypt's tahrir square turns to violence this morning with nine...
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if no deal is struck and the fiscal cliff comes, then $600 billion in automatic tax increases and spending cuts will kick in. that could affect a lot of programs in this room, and that will absolutely leave an awful lot of voters, democratic and republican, unhappy. >> tom, you even picked red and green for the season? i'm kidding. tom foreman explaining to us in a way that absolutely no one else can. we have got to figure out a way to bottle this guy. he's awesome. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not be used more than twice a day. people with copd taking advair may have a higher chance of pneumonia. advair may increase your risk of osteoporosis and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking advair. if you're still having diff
if no deal is struck and the fiscal cliff comes, then $600 billion in automatic tax increases and spending cuts will kick in. that could affect a lot of programs in this room, and that will absolutely leave an awful lot of voters, democratic and republican, unhappy. >> tom, you even picked red and green for the season? i'm kidding. tom foreman explaining to us in a way that absolutely no one else can. we have got to figure out a way to bottle this guy. he's awesome. so now i can be in the...
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but limiting or even charitable deductions could be part of a deal to avoid the fiscal cliff. one man of the tax policy center says given our national debt? sort of tax hikes are inevitable. >> one way is to tax the same income we have right now but get more revenue. the alternative is to tax more. get rid of the deductions and the exemptions, the things that reduce or taxable income. we tax more at today's rates and we bring in more revenue. >> reporter: itemized deductions are the first form of tax breaks on the table. used by 30% of tax payers they cost the government over $200 billion a year. about a fifth of this year's deficit. charitable donations alone cost $40 billion a year. but ending them is costly too. >> anybody who gives money away, taxes will go up. they'll pay more. that's what we're all about trying to get rid of these. but at the same time they'll likely give less to charity. if i don't get the deduction, it's going to cost me more after taxes to give away money. >> reporter: and say nonprofit leaders, if the rich stop giving, the poor stop getting. >> we're
but limiting or even charitable deductions could be part of a deal to avoid the fiscal cliff. one man of the tax policy center says given our national debt? sort of tax hikes are inevitable. >> one way is to tax the same income we have right now but get more revenue. the alternative is to tax more. get rid of the deductions and the exemptions, the things that reduce or taxable income. we tax more at today's rates and we bring in more revenue. >> reporter: itemized deductions are the...
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at the end of the year for many of the folks, if no deal is reached over the fiscal cliff. cnn has the details. >> reporter: liz does not call it a fiscal cliff. she could be facing at year's end is a financial free-fall. >> i just don't wish i was in this situation but it is what it is. and i could just do what i can. >> reporter: she lost her job as a new home sales manager last january. annan old laptop with a broken cord, she applies for job after job, keeping track in a notebook. averaging 15 applications a day, at age 54, this is the first time she's ever been on unemployment. she's emptied out her 401(k), savings and the last resort, emergency federal jobless program kept her in her town home giving her $454 a week. december 29th, unless congress and the white house act the money stops. >> we're not trying to live off the system. we're trying to survive. it's not a luxury to be on unemployment. it's a means to keep us going. >> reporter: the fear of the fiscal cliff isn't just cheer in the suburban neighborhood. in the states with the highest unemployment from the we
at the end of the year for many of the folks, if no deal is reached over the fiscal cliff. cnn has the details. >> reporter: liz does not call it a fiscal cliff. she could be facing at year's end is a financial free-fall. >> i just don't wish i was in this situation but it is what it is. and i could just do what i can. >> reporter: she lost her job as a new home sales manager last january. annan old laptop with a broken cord, she applies for job after job, keeping track in a...
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no deal appears to be in sight in washington on the fiscal cliff. what's and a logo? a new logo that is sparking outrage. we will be back with a bit more in just a couple of minutes. look at you guys with your fancy-schmancy u-verse high speed internet. you know, in my day you couldn't just start streaming six ways to sunday. you'd get knocked off. and sometimes, it took a minute to download a song. that's sixty seconds, for crying out loud. we know how long a minute is! sitting, waiting for an album to download. i still have back problems. he doesn't have back problems. you kids have got it too good if you ask me. [ male announcer ] now u-verse high speed internet has more speed options, reliability and ways to connect.
no deal appears to be in sight in washington on the fiscal cliff. what's and a logo? a new logo that is sparking outrage. we will be back with a bit more in just a couple of minutes. look at you guys with your fancy-schmancy u-verse high speed internet. you know, in my day you couldn't just start streaming six ways to sunday. you'd get knocked off. and sometimes, it took a minute to download a song. that's sixty seconds, for crying out loud. we know how long a minute is! sitting, waiting for an...
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Dec 11, 2012
12/12
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CSPAN
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cliff the deal, getting closer to balancing the budget, which i think is still very important in the mindset of businesses and this government, that we learn to do that. but i do hope because of all the discussion that tax reform is something that is taken seriously for this year. i think it's well overdue. it's been posited as something that should be done now. it's obviously doesn't have time to do it before december 31. i think that there's a real opportunity to make a lot of the changes that we have talked with through -- about through tax reform. and it will give businesses a lot of the assurances they need that the government is paying attention. >> you should tell barack obama to find a jim baker, then. >> i have an idea for you. which is, this is -- if you think about each time we reached a crisis point of enormous proportions in our country, there's been an institutional response toe it. we had a number financial crises through the late 1800's early 1900's, we create add central bank. and that has proved to be enormously valuable in this past -- for the past five years. for
cliff the deal, getting closer to balancing the budget, which i think is still very important in the mindset of businesses and this government, that we learn to do that. but i do hope because of all the discussion that tax reform is something that is taken seriously for this year. i think it's well overdue. it's been posited as something that should be done now. it's obviously doesn't have time to do it before december 31. i think that there's a real opportunity to make a lot of the changes...
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451
Dec 11, 2012
12/12
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FOXNEWSW
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talking about the pesky fiscal cliff loomming in the end of the year. you know, the way washington works. you got to write bills and get people on board. if that is true and if they want to have a deal by january wobst as you look at a live picture where no one is working in that building. they would have to come up with a deal sometime this week by this weekend. it is interesting according to usa today apparently both sides are talk not releasing detailings. mr. boehner wants to know what spending cuts the president is talking about . the president wants to know what kind much tax hike the republicans go on. >> gretchen: it feels like dejavu. ground hog dog. last year it the debt ceiling orificical cliff. it was the debt ceiling. >> steve: first fiscal cliff of our lifetime. >> gretchen: it feels like it has been here a longg time and they were talking about the importance of the day to get the bill actually through. i feel like they can jump through hoops and get past that, too. >> eric: had it has to originate in the house and sent over marked up to
talking about the pesky fiscal cliff loomming in the end of the year. you know, the way washington works. you got to write bills and get people on board. if that is true and if they want to have a deal by january wobst as you look at a live picture where no one is working in that building. they would have to come up with a deal sometime this week by this weekend. it is interesting according to usa today apparently both sides are talk not releasing detailings. mr. boehner wants to know what...
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147
Dec 11, 2012
12/12
by
KTVU
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. >>> with the fiscal cliff getting closer and house speaker john boehner's talking about a very short deal and there is time for congress to acts. >>> big tides for california are coming in soon and they are called king tides and they will peek thursday morning. the water will cover beaches entirely. instead of the water lapping up on sand it will be hitting the docks and they believe this is what california will look like some day if globe pal warming raises the sea levels. >>> we are talking about the pay bridge, it is all picked up? >> yes if you are trying to hit the road you should not be worried about any road work but of course we are here to find out about troubled spots. let's look at 880 westbound and you can see traffic is moving well out to the mcarthur maze with no major issues getting onto the bay bridge and toll plaza and that traffic is moving along nicely on into san francisco with no major problems. we also have a look at 280 and san jose and 101 and 285 are off to a great start and hopefully it will stay this way but as more people get on the road, you know how it g
. >>> with the fiscal cliff getting closer and house speaker john boehner's talking about a very short deal and there is time for congress to acts. >>> big tides for california are coming in soon and they are called king tides and they will peek thursday morning. the water will cover beaches entirely. instead of the water lapping up on sand it will be hitting the docks and they believe this is what california will look like some day if globe pal warming raises the sea levels....
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444
Dec 11, 2012
12/12
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CNNW
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cliff if washington can't strike a deal. so with the clock ticking and the stakes so high, both the white house and republican leaders are tamping down their fiery rhetoric. listen to president obama's sales pitch for his version of a compromise. >> when you put it all together, what you need is a package that keeps taxes where they are for middle class families, we make some tough spending cuts on things that we don't need, and then we ask the wealthiest americans to pay a slightly higher tax rate. >> brianna keilar is at the white house. brianna, are meetings going on outside of the public's view? is that your understanding? >> reporter: well, there are discussions. that is what we're told. as we understand it, obviously, the last meeting between the president and speaker boehner was on sunday. but we're told by both the white house and the speaker's office that discussions are ongoing, so, obviously, they can all pick up the telephone, and that, quote, the lines of communication are open. this is thing we're hearing over
cliff if washington can't strike a deal. so with the clock ticking and the stakes so high, both the white house and republican leaders are tamping down their fiery rhetoric. listen to president obama's sales pitch for his version of a compromise. >> when you put it all together, what you need is a package that keeps taxes where they are for middle class families, we make some tough spending cuts on things that we don't need, and then we ask the wealthiest americans to pay a slightly...